Yi: +4.1, +5, +4.65, +4.8, +3.7
Thursday, November 17, 2011
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For those of you who have inquired, the "Yi" is my own proprietary overbought/oversold indicator, where a +5 reading generally indicates we are overbought in the overall market, and -4 or a -5 reading is telling us the market is oversold. The "zero line" in between the plus and minus readings will sometimes act as an area of support or resistance, so I tend to keep an eye on that level also. A reading of +10 is extremely overbought, and of course a -10 indicates extremely oversold.
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About the ancient spirit:
- Yogi Zuna
- Older than the great pyramid and "catface" on Mars... been in the market since 1980.
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